Allstate Corp Stock Price, News & Analysis

Allstate and Arlo Technologies have partnered to launch the Arlo Total Security bundle, a comprehensive home security package. The exclusive offering includes 24/7 professional monitoring, hardware components (Security System Keypad Hub, 5 All-in-One Sensors, 2 Outdoor cameras), and an Allstate Protection Plan with three-year extended coverage. The bundle is being offered at a special reduced price ahead of the holiday season, targeting homeowners seeking enhanced security during peak package delivery periods.

Allstate (NYSE: ALL) reported strong Q3 2024 financial results with total revenues of $16.6 billion, up 14.7% year-over-year. Net income reached $1.2 billion ($4.33 per share) compared to a loss of $41 million in Q3 2023. Property-Liability earned premiums increased 11.6% to $13.7 billion, while underwriting income improved to $495 million. Auto insurance generated $486 million in underwriting income despite $1.7 billion in catastrophe losses. The company maintained strong capitalization with $17.3 billion in statutory surplus and $3.0 billion in holding company assets.

Allstate announced an expansion of its college athletics support program to include all sports and athletes. The company will enhance its Good Hands field goal nets program by increasing donations for field goals and extra points, directing funds to scholarships across all sports. Additionally, Allstate will broaden its Good Works Team initiative in partnership with NACDA to recognize 60 additional student-athletes across winter, spring, and fall sports seasons, beyond the current 22 football players honored annually. Sports journalist Holly Rowe will partner with Allstate to promote these programs. The company's involvement in college sports spans nearly two decades, including its role as title sponsor of the Allstate Sugar Bowl.

Allstate (NYSE: ALL) reported estimated catastrophe losses of $889 million ($702 million after-tax) for September 2024, including $630 million pre-tax related to Hurricane Helene. The third quarter saw total catastrophe losses of $1.70 billion ($1.35 billion after-tax), while year-to-date losses through September reached $4.55 billion ($3.60 billion after-tax).

The company's annual run-off property-liability reserve review resulted in unfavorable reserve reestimates of $58 million ($46 million after-tax). Allstate brand auto insurance rate increases led to a premium impact of 2.9% in Q3 and 6.3% year-to-date, including rate hikes approved in New York, New Jersey, and Texas. Updated rate information for auto and homeowners insurance is available on the Allstate investor website.

Allstate Protection Plans, a division of Allstate (NYSE: ALL), has acquired Kingfisher, a privately held company specializing in smart device lifecycle optimization. This strategic move enhances Allstate's offerings for the mobile industry and its customers. Kingfisher, founded in 2016, has been a pioneer in the mobile circular economy, providing solutions that cater to the growing consumer demand for flexible ownership and environmentally conscious protection options.

The acquisition brings Kingfisher's team of mobile experts to Allstate, strengthening its position in the device protection industry. Allstate Protection Plans currently serves over 150 million customers worldwide and partners with major mobile carriers such as Telenor Group, Softbank, Three, and T-Mobile. This acquisition is expected to provide Allstate with a significant competitive advantage in meeting the evolving needs of carriers and consumers in the wireless industry.

Allstate (NYSE: ALL) has announced its upcoming third quarter 2024 earnings conference call and webcast, scheduled for Thursday, Oct. 31, 2024, at 9 a.m. ET. The company plans to file its financial results via Form 8-K with the SEC on Wednesday, Oct. 30, after 4:15 p.m. ET. Investors can access the earnings release and investor supplement shortly after filing on the SEC's website and Allstate's Investor Relations website.

The press release provides information on how to access financial news, join the live conference call, and view the webcast replay. Interested parties can also subscribe to email alerts and RSS feeds for updates on financial news and material announcements through the Allstate Investor Relations website.

Allstate (NYSE: ALL) has reported estimated catastrophe losses for August 2024 of $272 million ($215 million after-tax), including favorable reserve reestimates for prior events. The losses encompass 15 events totaling $306 million, with approximately $75 million attributed to a hail event in Calgary, Canada. The Calgary event estimate includes reinsurance reinstatement premiums and is net of anticipated reinsurance recoveries of $225 million.

Catastrophe losses for July and August combined reached $814 million ($643 million after-tax), while the year-to-date total through August stood at $3.67 billion ($2.90 billion after-tax). This information is part of Allstate's routine financial disclosures, which are regularly posted on their investor relations website.

The 2024 Allstate AFCA Good Works Team has been announced, recognizing 22 student-athletes and one head coach for their outstanding community service. This team, selected from a record 178 nominees, highlights players who have made significant contributions off the field. Notable members include Chase Griffin from UCLA, who founded a foundation to tackle food insecurity, and Malaki Starks from Georgia, who hosted a football camp for at-risk youth.

The Allstate Wuerffel Trophy, presented to one of the 11 NCAA Football Bowl Subdivision players on the Good Works Team, will be announced later this year. Fans can participate in the selection process by voting until November 15 at ESPN.com/Allstate. The winner will be revealed on December 12 during The Home Depot College Football Awards show on ESPN.

Allstate (ALL) has announced preferred dividends totaling approximately $29.3 million for the dividend period from July 15, 2024, through October 14, 2024. These dividends will be payable in cash on October 15, 2024, to stockholders of record as of September 30, 2024. The dividends are distributed across three series of preferred stock:

• Series H: 5.100% annual rate, $0.3187500 quarterly per depositary share
• Series I: 4.750% annual rate, $0.2968750 quarterly per depositary share
• Series J: 7.375% annual rate, $0.4609375 quarterly per depositary share

Investors can find additional financial information and material announcements about Allstate on the company's investor relations website.